Mobile Phone and Smart Phone Market is Considered as One of the Rapidly Growing Dynamic Markets(2021)

Mobile Phone and Smart Phone Market: Global Industry Analysis and Forecast 2015 – 2021
Cellular phones with basic facilities such as text messaging, voice calling, audio and video
visualization and camera are referred to as mobile phones. Cellular phones that offer advanced
computing abilities such as Wi-Fi, web browsing, third-party applications and mobile payment,
solutions for information management, such as documents, emails and contacts, inbuilt GPS
applications, and provides features such as voice and video calls and web access are referred to as
smart phones. Apart from being a communication device, smart phones offer additional features
such as internet access, Bluetooth, gaming, camera, multimedia messaging, FM radio, and
multimedia functionalities. With technological advancements, phablets are witnessing gradual
growth traction and has resulted in a decline in the rate of adoption for laptops and personal digital
assistants globally. Recent years have witnessed a substantial change in the dynamics and structure
of the global mobile phone and smart phone landscape. Currently, mobile phones and smart phones
market is experiencing proliferation owing to factors such as decreased cost, improved design and
functionalities such as enhancement in mobile browsing and email services, the emergence of new
network technologies such as 3G and 4G, improved professional and personal data supervision and
the standardization and up-gradation of all operating systems.
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The market is highly competitive with major players facing strong competition from the regional
players thus creating difficulties for vendors retain their market shares. For instance, Nokia has lost
a considerable amount of market share in the past two years. Android, iPhone OS (operating
system), BlackBerry OS, Symbian and Windows are some of the operating system used in the
smartphone. Blackberry operating system is popular in North America. iPhone operating system has
recently witnessed a high growth rate in North America and is anticipated to grow in the forecast
period as well. The increase in penetration of internet with technological advancements and up
gradation of the network infrastructure is contributing to the growth of the market.
Currently, mobile phone and smart phone market are matured in the developed world with an
average of more than one device or subscription per person. The growth of this market is from
emerging regions such as Asia-Pacific, Latin America, Eastern Europe, the Middle East and Africa,
where smart phone have witnessed proliferating with regional players introducing low-cost products
to obtain a competitive edge. China and India are currently the top contributors to this market and
with the market still at the nascent stage; it is expected to witness exponential growth in near future.
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Major players in the mobile phone and smart phone market include Apple Inc., Acer Inc., Asustek
Computer Inc., Google Inc., Benq Corporation, Hewlett-Packard Company, Huawei Technologies,
Htc Corp, LG Electronics, Motorola Inc., Mitac Technology Corp., Research In Motion Ltd.,
Panasonic Corporation, Sagem Wireless, Sony Ericsson, Samsung Electronics Co., Ltd. and Spice
Mobility Limited. The market has fewer entry barriers, so to reduce the threat from new entrants,
these players are continuously engaged in innovating new products to retain its customer base and
in-turn its market share.